Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, September 13, 2013

Article Excerpt

CONAGRA FOODS INC., $31.88, New York symbol CAG, fell 5% this week after the company warned that weaker-than-expected demand for its brand name foods, such as Hunt’s ketchup, Peter Pan peanut butter and Slim Jim meat snacks, is hurting its earnings. As a result, the company now expects that it earned $0.37 a share in the first quarter of its 2014 fiscal year, which ended August 31, 2013. This forecast excludes unusual costs related to its recent purchase of Ralcorp Holdings, the largest maker of private label food in the U.S. Even so, ConAgra’s forecast is well below the consensus estimate of $0.45 a share. The company is now adjusting its pricing and marketing strategies to spur its sales, but lower ingredient costs and savings from the Ralcorp merger will still let it meet its debt repayment goals in fiscal 2014 and 2015. ConAgra is still our #1 buy for 2013. Please make sure you are logged in to your account to access…

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